The revenge practices of plutocrats

What do we think of when we imagine elites exercising their power? There are many ways we can approach such a question, with varying degrees of abstraction. But reading The Divide: American Injustice In The Age Of The Wealth Gap, by Matt Taibbi, has left me preoccupied by how they practice revenge. It’s easy to imagine our contemporary plutocrats having an impulse towards revenge, as we trundle ever more inexorably towards what appears to be a dark neo-feudal future. The structural constraints upon vengeance are weakening, reflecting the declining accountability of plutocrats, accompanied by a diminishing sense that such figures are part of the social order and bound by the same rules as those within it:

Such considerations can easily fuel a dystopian imagination, powerfully expressed in Peter Frase’s idea of exterminism. His concern is with the growing tendency of the rich to regard themselves as persecuted and seek to withdraw themselves from wider society. As he writes on loc 1471 of Four Futures:

But the construction of enclaves is not limited to the poorest places. Across the world, the rich are demonstrating their desire to escape from the rest of us. A 2013 article in Forbes magazine reports on the mania, among the rich, for evermore-elaborate home security. 11 An executive for one security company boasts that his Los Angeles house has security “similar to that of the White House.” Others market infrared sensors, facial recognition technologies, and defensive systems that spray noxious smoke or pepper spray. All this for people who, although rich, are largely anonymous and hardly prominent targets for would-be attackers.

Paranoid though they may seem, large numbers of the economic elite appear to regard themselves as a set-upon minority, at war with the rest of society. Silicon Valley is a hotbed of such sentiments, plutocrats talking openly about “secession.” In one widely disseminated speech, Balaji Srinivasan, the cofounder of a San Francisco genetics company, told an audience of start-up entrepreneurs that “we need to build opt-in society, outside the US, run by technology.” 12 For now, that reflects hubris and ignorance of the myriad ways someone like him is supported by the workers who make his life possible. But it demonstrates the impulse to wall off the rich from what are deemed to be surplus populations.

His suggestion is that such defensiveness might over time become offence. Not in the generic sense in which the accumulated privilege of the plutocrats necessarily entails a relationship of offence to wider society. But in the much darker sense of deliberately seeking to eliminate surplus populations. In a speculative but thought-provoking account, he draws together a diverse range of trends which collectively point towards the increasing willingness of elites to sanction intensifying violence against ever greater portions of their populations.

How seriously should we take this? I’m not sure. But I realise my interest in the revenge practices of elites is motivated by a concern to elucidate where our present conjuncture could one day lead. There’s a disturbing story in The Divide which the author summarises on pg 248:

The Fairfax fiasco is a tale of harassment on a grand scale, in which the cream of America’s corporate culture followed executives, burgled information from private bank accounts, researched the Canadians’ sexual preferences for blackmail purposes, broke into hotel rooms and left threatening messages, prank-called a cancer-stricken woman in the middle of the night, and even harassed the pastor of the staid Anglican church where the Canadian CEO worshipped on Sundays. They worked tirelessly to instigate phony criminal investigations in multiple countries, tried relentlessly to scare away investors and convince ratings agencies to denounce the firm, and in general spread so many lies and false rumors to so many people using so many different false names that they needed a spreadsheet to keep track of their aliases.

What’s so grim about this tale is the personal animus which seems to be at work here. As well as their initial financial motivations, they really want to destroy the life of the Fairfax chief for rather indiscernible reasons. The reporting isn’t complete by any means but it’s a fascinating and disturbing account of one of the most extreme examples of revenge by defensive elitists I’ve come across. I’d like to find and study more examples of this to better understand that characteristic defensiveness which I’m beginning to try and theorise, as well as where it might lead us in future.

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3 Comments

I think you should do more research into this – and start your own spreadsheet now – but you must get a forensic intelligence analyst on board because much of the connection between these elites and their abilities to operate comes from the ability to use state banks and unregulated finance instruments. Entitlement has detached itself from land and moved into the floating world of finance.